The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day.
0943 ET - U.S. natural gas futures are lower in choppy trade with a warmer weather outlook for early July supporting prices while solid production and comfortable inventories limit gains. "Storage remains at a 5.8% premium to the five-year average, which is keeping the sellers present on rallies," Dennis Kissler of BOK Financial says in a note. "Hotter weather forecasts will be needed to lift prices into July." Nymex natural gas is down 1.8% at $3.195/mmBtu. (anthony.harrup@wsj.com)
0934 ET - Oil futures are lower as the U.S. waives sanctions on Iranian oil, which along with a reopening of the Strait of Hormuz is seen freeing more oil into the market. Further price weakness can't be ruled out as the market focuses more on the loosening of oil balances than on the drop in oil stocks to "critically low levels" which could continue for several weeks, Ritterbusch & Associates says in a note. "Once the sharp supply downtrend begins to reverse, the process of refilling both commercial and SPR storage will provide a source of support through the rest of this year and well into next as far as the SPR is concerned." WTI is off 0.6% at $73.41 a barrel as the August contract debuts at the front of the curve. Brent is down 0.7% at $77.33 a barrel.(anthony.harrup@wsj.com)
0916 ET - Treasury yields cool down a little while the dollar rises as U.S.-Iran talks inch forward. Crude prices slip, as the U.S. cleared the way for Iran to sell oil in dollars, including to U.S. buyers, as part of the negotiations to restore shipping through the Strait of Hormuz. Falling energy prices can ease inflation concerns. Odds of a Fed hike in September decline slightly, according to CME. The WSJ Dollar Index rises 0.2%. The 10-year yield slips to 4.487% from yesterday's 4.507% settle. The two-year declines to 4.192% from 4.230%. (paulo.trevisani@wsj.com; @ptrevisani)
0854 ET - Couche-Tard's F4Q EPS beat was driven by solid gasoline margins, says Stifel's Martin Landry. "U.S. gasoline margins reached $0.52/gal, this highest level in more than five years," the analyst says. The company's arbitrage strategies benefited from the volatility in crude prices during the quarter, according to Landry. Citing data from OPIS, he says industry gasoline margins in the U.S. were approximately $0.35/gal during the quarter, while Couche-Tard's U.S. gasoline margins were $0.52/gal, "an outperformance of 46%, above the historical average outperformance of 15-18%. The strong gasoline margins were a main contributor to the earnings beat." (adriano.marchese@wsj.com)
0844 ET - RWE's acquisition of an additional stake in transmission grid operator Amprion is strategically attractive, Barclays analysts write. The German energy company will pay 3.6 billion euros for an additional 35% stake. The deal is another step into regulated infrastructure assets just as Germany's grid requires substantial investment, they say. The deal adds visibility to earnings from regulated assets, with RWE expecting more than 75% of adjusted earning per share in 2031 to be contracted or regulated, the analysts say. Shares fall 1.3% to 54.88 euros. (adam.whittaker@wsj.com)
0740 ET - Fuel-price volatility played right into Couche-Tard's strengths in F4Q. TD Cowen's Michael Van Aelst says in a note that EPS of 73 cents, up 59% year-over-year and far above consensus estimates of 54 cents, "stemmed from fuel margin outperformance across all geographies and U.S. in-store execution where merchandise same-store sales growth accelerated to 3.4%." Van Aelst says the strong beat "highlights how larger players like ATD can materially outperform during periods of fuel price volatility, particularly after significant supply chain investments." (adriano.marchese@wsj.com)
0703 ET - RWE's Amprion deal has several merits despite being funded via an equity raise rather than within the existing joint venture it has with Apollo Global Management as expected, BofA analysts write. The German energy company's acquisition of an additional 35% stake for 3.6 billion euros is immediately accretive to earnings per share and the acquisition price is cheap, the analysts write. The deal also reduces long-term earnings volatility and has significant investment optionality, the analysts add. Shares rise 0.8% to 56.02 euros. (adam.whittaker@wsj.com)
0652 ET - Business sentiment in the eurozone appears to have stabilized after the memorandum of understanding signed between Iran and the U.S., Commerzbank's Vincent Stamer says in a note. The composite PMI for the eurozone rose to 49.5 in June from 48.5 in May, a three-month high albeit stil signaling a modestly contracting economy. "This fuels hope that a lasting peace agreement and a genuine normalization of the oil market would also spur an economic recovery in Europe," Stamer says. The subindex for output prices also fell slightly, signaling somewhat lower inflationary pressure, he says. Still, the PMI remains just within the range that has historically been associated with economic contraction, he notes. (edward.frankl@wsj.com)
0649 ET - Macquarie pushes back by one month the expected timing for the Bank of Canada's first quarter percentage point interest-rate rise to October. However, Macquarie anticipates a further half-point in increases in the first half of 2027. This follows mixed inflation measures for May, with Canadian headline line inflation accelerating but core metrics remaining subdued, Macquarie head of economics David Doyle says. Doyle notes core inflationary pressures through May have been depressed by costs related to homeownership, reflecting subdued housing market activity. Looking ahead, he anticipates some firming as the output gap shrinks with an improving Canadian economy. (robb.stewart@wsj.com; @RobbMStewart)
0644 ET - Eurozone purchasing managers indexes point to easing pressures on activity from the Iran war, Andrew Kenningham at Capital Economics says in a note. The data suggest that the worst of the conflict's inflationary pressures could be over, supporting the case for the ECB leaving interest rates unchanged in July, he says. The composite PMI rose a little more than expected, with a small improvement in services but a deterioration in manufacturing. "At face value it still consistent with the eurozone being in or close to recession." Meanwhile, both input and output price indices fell in June, Kenningham notes. "We suspect that policymakers will choose to leave rates on hold in July and beyond that provided that there is not a renewed increase in energy prices," he says. (don.forbes@wsj.com)
0641 ET - RWE's additional stake in transmission grid operator Amprion is opportunistic rather than representative of a strategic shift toward grids, Jefferies analysts write after a call with management. The German energy company is also confident the deal will create value, the analysts add. Shares rise 0.8% to 56.02 euros. (adam.whittaker@wsj.com)
0633 ET - U.S. Treasury yields fall while the dollar rises to a one-year high against a basket of currencies. Lower oil prices help push yields lower while the dollar is lifted by expectations of Federal Reserve rate hikes. "The currency could remain supported by the Federal Reserve's hawkish tilt during its latest meeting," BankPro CEO Paolo Broccardo says in a note. The Fed's latest projections prompted markets to price in at least one 25-basis-point rate increase by the end of the year, he says. The DXY dollar index rises 0.2% to 101.189, the highest since May 2025. The 10-year Treasury yield falls 2.8 basis points to 4.479%, according to Tradeweb. (emese.bartha@wsj.com)
(END) Dow Jones Newswires
June 23, 2026 09:43 ET (13:43 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
Comments